Bill Ackman, the CEO and founder of hedge fund management company Pershing Square, is still bullish on crypto and says: “crypto is here to stay” in this crypto winter. Additionally, Ackman said that he likes a couple crypto projects, including Dimo, a vehicle data translation platform, Goldfinch Finance, and Origyn, an NFT platform. He also expressed interest in Helium because of its tokenomics.
On Sunday, Bill Ackman tweeted:
The telephone, the internet, and crypto share one thing in common. Each technology improves on the next in terms of its ability to facilitate fraud. As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created.
Bill Ackman
Bill Ackman compares crypto with the rise of the telephone and the internet. From my understanding, it is stated that crypto is still at the early stage, a lot of people don’t think it is a real thing. Believe it or not, some friends of mine actually think only people browsing the dark web will use crypto and conduct criminal activities. On the other hand, Ackman believes that cryptocurrency serves as an effective tool for gaining access to a worldwide workforce and advancing a project is the capacity to issue a token to reward participants in a venture.
Bill Ackman initially thought there is no intrinsic value in tokens. However, after he had learned more from some crypto projects such as Helium, he then realized that crypto has the potential to do great things for society and the global economy. Although Ackman is uninvolved in Helium, according to his tweet on Sunday. So what is Helium?
Helium Network
Helium is a network that integrates wireless communication protocols by utilizing blockchain technology. Internet of Things devices like sensors and trackers were its previous focus. There are currently about one million nodes in the network, and HNT tokens are operators’ reward.
Bill Ackman tweeted:
Given HNT’s ultimately finite supply, the balance between supply and demand yields a market price which increases or decreases over time along with the success of the Helium Wi-Fi network. As such, HNT becomes a valued commodity whose price is determined by supply and demand.
Bill Ackman
Closing Thoughts
Bill Ackman emphasizes that he takes his crypto portfolio as a hobby and he believes that digital assets will have more potential once it is regulated appropriately. Personally, I do believe regulation is a good thing to investors. However, one of the most appealing features to me is decentralization. However, with regulation, will cryptocurrency maintain its decentralization? We don’t know the answer currently, I am excited to see what the next chapter holds.
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